Deadline looms for Seedcorn Competition with top prize of €100k
InterTradeIreland is encouraging businesses in the Causeway Coast and Glens area to get their applications in for its Seedcorn Investor Readiness Competition before the 27th May for a chance to win a share of the total cash prize fund of €280,000.
Now in its 14th year, the competition is open to all independent companies incorporated in Northern Ireland or Ireland in the seed, start-up or early stages of business development and which are ideally targeting international markets.
Connor Sweeney, Seedcorn project manager for InterTradeIreland said: "Our Seedcorn competition provides young companies with a real opportunity to start developing their investment skills and put their business plan to the test. For the winners, it also provides a significant cash boost and access to an extensive business and investment community that can help raise their profile and create further investment opportunities in the future. Taking part can boost the profile of a business and signal to potential investors that your company is 'one to watch'."
Initial applications will be shortlisted by a selection panel, with successful companies being invited to submit their full business plan. If shortlisted, companies then deliver an investment pitch in front of the judging panel comprising venture capitalists, business angels and some of the island's leading industry entrepreneurs and business experts. Prior to attending regional finals, each company attends an intensive one day investment pitch masterclass to help polish their presentation skills.
The winners of Best 'Early Stage' Company and Best 'New Start' Company stand to win €50,000 each. The overall winner will be chosen from these two and will win an additional €50,000 giving them €100,000 overall - with no equity stake being taken by InterTradeIreland. There are also regional prizes of €20,000 and one Best Spinout prize of €10,000.
The final date for receipt of initial completed application forms is Friday 27th May and companies can register their interest in advance at www.intertradeireland.com/seedcorn. Regional winners will be announced in mid November before going on to compete in the all-island grand final which takes place in Belfast in November 2016.
Companies interested in getting involved with Seedcorn can follow the competition on Twitter (ITI_seedcorn) where they can get valuable information and advice from experts. A series of videos to explain the competition process are available to view at www.intertradeireland.com/seedcorn.